Squeeze-Out at Stollwerck AG temporarily halted

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• Lawsuit against the squeeze-out of minority
shareholders•Stollwerck will contest the lawsuit•Integration process not affected

Zurich/Switzerland, Cologne/Germany, June 17, 2003 – A lawsuit
has been filed against the resolution to squeeze out the minority
shareholders in exchange for cash compensation of EUR 295.00 per
share which was passed by the annual general meeting of Stollwerck
AG shareholders on April 30, 2003. The approved squeeze-out of
minority shareholders has thus been temporarily halted. Stollwerck
AG will use all legal means at its disposal to contest this lawsuit
so as to expedite the implementation of the general meeting’s
resolution.

Barry Callebaut AG regrets the delay caused by the rescissory
action. Chairman of the Board Andreas Schmid notes: "Challenging
squeeze-out resolutions has, unfortunately, become commonplace. Not
a single squeeze-out has been ultimately blocked by these legal
challenges, so they are not in the best interests of minority
shareholders because they have to wait for an indefinite period
until they receive their cash compensation and a functioning market
for their shares is no longer available."

Integration proceeding as planned

The integration of Stollwerck AG into the Barry Callebaut Group
is not affected by the rescissory action; it is proceeding on track
and should be completed in the summer of 2004.

Background information on the squeeze-out

The Swiss company Barry Callebaut AG acquired 96.10% of
Stollwerck AG’s shares through its German subsidiary Van Houten
Beteiligungs AG & Co. KG in August 2002. In September 2002, Van
Houten Beteiligungs AG & Co. KG issued a mandatory public offer
to buy the remaining shares of minority shareholders of Stollwerck
AG for EUR 295.00 per share. Van Houten Beteiligungs AG & Co.
KG has held 98.66% of the entire share capital and voting rights of
Stollwerck AG since the expiration of the mandatory public offer.
Van Houten Beteiligungs AG & Co. KG submitted a proposal to the
remaining 1.34% minority shareholders at the ordinary general
meeting of Stollwerck AG on April 30, 2003 to pay them cash
compensation of EUR 295.00 per share so that the shares could be
subsequently delisted.

With annual sales of CHF 2.6 billion for fiscal year 2001/02,
Barry Callebaut is the world’s leading manufacturer of
high-quality cocoa and chocolate products. Barry Callebaut operates
some 30 production facilities in 16 countries and employs
approximately 7,000 people. The company is organized into four
strategic business units: Cocoa, Sourcing & Risk Management,
Food Manufacturers, Gourmet & Specialties and Consumer
Products.

The company’s customers range from industrial processors,
such as the world famous branded consumer goods manufacturers who
produce chocolate, confectionery, biscuits, dairy products, ice
cream and breakfast cereals incorporating Barry Callebaut’s
products, to artisanal users, including hotels, gastronomy,
chocolate makers, pastry chefs and bakers, to partners in the food
retailing industry for whom the Barry Callebaut Group produces
branded, customer label and other consumer products. Barry
Callebaut also provides a comprehensive range of services in the
fields of product development, processing, training and
marketing.

The Stollwerck AG activities acquired by Barry Callebaut AG
generated sales of approximately CHF 764 mn or EUR 525 mn in fiscal
2002 and included eight production facilities with about 2,000
employees located in Germany, Belgium and Switzerland.
Stollwerck’s strengths lie in its range of well-recognized,
well-established brands in the middle and premium market segments,
which it has consistently and successfully marketed and refined.
This underscores the company’s skills as a full-range supplier
with regard to price category, market segment and consumer
needs.